Marketing strategy I #6 1 Consumer Behavior

Taku Togawa

21 May 202410:28

Summary

TLDRIn this video, Taku Towa from the Department of Management addresses the class, emphasizing the importance of health and well-being amidst a busy schedule. He corrects a mistake in the course schedule, clarifying that the review session will occur in the seventh week via an online forum on Moodle. Towa also reviews the previous class on growth strategies, discussing the significance of analyzing external environmental factors and conducting a SWOT analysis to assess a company's strengths, weaknesses, opportunities, and threats. He provides examples from students' SWOT analysis of SOPIA, highlighting the need for the university to create unique value to attract potential students.

Takeaways

😀 Taku Towa from the Department of Management is addressing the class.
📚 The class has reached its sixth week, and students are encouraged to take care of their health amid the hot and humid weather.
🗓️ There was a mistake in the course schedule; the Review section was mistakenly shown to be in the sixth week but is actually scheduled for the seventh week.
💻 An online Forum will be opened on Moodle for a Q&A session during class hours on May 29th, from 5:20 p.m. to 7:00 p.m.
❓ Students can post questions on the Forum, but participation is optional and does not affect their course grade.
🚫 The Forum is not for discussing grades or other courses' assignments, only for questions about the course content.
🤔 The purpose of the Q&A session is to clarify and solve any questions regarding the course content.
📈 Last week's class focused on growth strategies and the importance of analyzing external environmental factors for companies.
🌐 Companies should monitor demographic, economic, natural, technological, political, and cultural factors when planning marketing strategies.
🔍 The Five Forces analysis was introduced as a framework to evaluate the structure of industries and the attractiveness of specific industries.
📝 SWOT analysis was discussed, which organizes factors into internal and external, as well as positive (strengths and opportunities) and negative (weaknesses and threats) for the company.
🏫 In the last reaction paper, students conducted a SWOT analysis on SOPIA, identifying strengths such as nationality and location, weaknesses like small campus size, opportunities from global educational interest, and threats from competition among top Tokyo universities.

Q & A

What is the main purpose of the Q&A session on Moodle mentioned in the script?
-The main purpose of the Q&A session on Moodle is to clarify and solve any questions about the course content. It is an opportunity for students to ask questions and receive answers without affecting their course grade.
Why was there a mistake in the course schedule presentation?
-The mistake in the course schedule presentation was that the review section was shown to be conducted in the sixth week class by mistake, when in fact it should be the seventh week class.
What is the correct time for the online Forum on Moodle during class hours?
-The correct time for the online Forum on Moodle during class hours is from 5:20 p.m. to 7:00 p.m.
What is the date set for the online Forum on Moodle?
-The date set for the online Forum on Moodle is May 29.
Why is it important for students to review the frameworks discussed in class?
-It is important for students to review the frameworks discussed in class because they are fundamental tools for analyzing marketing strategies and understanding the internal and external factors affecting a company.
What does the acronym 'SWOT' stand for in the context of the script?
-In the context of the script, 'SWOT' stands for Strengths, Weaknesses, Opportunities, and Threats, which is a framework used to analyze and organize information about business capabilities and potential challenges.
What is the significance of the 'Five Forces' analysis mentioned in the script?
-The 'Five Forces' analysis is significant because it helps in evaluating the structure of industries based on relationships with competitors, buyers, suppliers, the threat of new entrants, and substitute products, indicating the attractiveness of an industry.
What are the factors that companies need to monitor according to the script?
-Companies need to monitor factors such as demography, economy, nature, technology, politics, and culture as these can influence their operations and strategy planning.
What is the role of the 'reaction paper' in the context of the class?
-In the context of the class, the 'reaction paper' is an assignment where students apply the concepts learned, such as SWOT analysis, to a specific case or topic, like analyzing the internal capabilities and external environment of SOPIA.
What was the mistake regarding the 'reaction paper' mentioned in the script?
-The mistake was not about the 'reaction paper' itself but rather a misunderstanding among students regarding the campus size and number of professors as a weakness. The instructor clarified that a smaller campus can actually enhance teaching quality and the university's reputation.
What are the potential opportunities and threats identified for SOPIA in the students' reaction papers?
-Potential opportunities identified for SOPIA include the growing interest of students in global educational systems, such as studying abroad. The threats include higher competition among top universities in Tokyo, which offer appealing courses and international exchange programs.

Outlines

00:00

📅 Course Schedule Correction and Q&A Session Announcement

In the first paragraph, Taku Towa from the Department of Management greets the class and addresses the challenges of the hot and humid weather, emphasizing the importance of health and well-being. The main focus of the paragraph is to clarify a mistake in the course schedule previously presented. It was mistakenly indicated that the Review section would be covered in the sixth week, but it will actually take place in the seventh week. To facilitate understanding and address any questions regarding the course content, an online Q&A session will be held using the Forum function on Moodle during the class hours on May 29th, from 5:20 p.m. to 7:00 p.m. Participation in this session is optional and will not affect the students' grades. The purpose is to clarify and resolve any questions about the course content, but it is not for discussing grades or private information. Towa also reminds students that asking about grades or scores from other courses is not appropriate for this session.

05:06

📚 Review of Growth Strategies and Environmental Analysis

The second paragraph delves into a review of the previous class's discussion on growth strategies and the importance of understanding both internal competencies and external environmental factors. Towa explains the significance of analyzing environmental factors from a macro perspective, such as demography, economy, nature, technology, politics, and culture. Companies must monitor these factors and understand their trends when planning their marketing strategies. The paragraph also touches on the five forces analysis, which evaluates the structure of industries considering competitors, buyers, suppliers, the threat of new entrants, and substitute products. This framework helps in assessing the attractiveness of an industry. Furthermore, Towa discusses the SWOT analysis, which organizes factors into internal and external categories, as well as positive (strengths and opportunities) and negative (weaknesses and threats) aspects for the company. The summary of the students' SWOT analysis of SOPIA is provided, with examples of strengths, weaknesses, opportunities, and threats identified by the students. The importance of creating original value for SOPIA to attract potential students is highlighted.

10:07

🔚 Concluding the Discussion on Environmental and SWOT Analysis

In the final paragraph, Towa brings the discussion to a close by summarizing the importance of analyzing both the external environment and internal capabilities of a company. The paragraph serves as a transition point, indicating that the session has reached a good stopping point and prompting the audience to move on to the next video. This paragraph reinforces the significance of understanding opportunities and threats in the external environment, as well as strengths and weaknesses within the company, as part of a comprehensive marketing strategy.

Mindmap

Keywords

💡Management

Management is the process of overseeing and making decisions to ensure the effective and efficient use of resources to achieve goals in an organization. In the context of the video, Taku Towa introduces himself from the Department of Management, indicating that the course content likely revolves around concepts and strategies related to managing a business or organization.

💡Course Schedule

A course schedule is a timeline or plan that outlines the structure and sequence of classes, assignments, and other academic activities over a given period. In the script, Towa corrects a mistake regarding the schedule, clarifying that the 'Rev' section will be conducted in the seventh week rather than the sixth, which is crucial for students to stay informed and organized.

💡Moodle

Moodle is a popular learning platform used by educational institutions to create online courses and learning environments. Towa mentions the Moodle page as the place where the correct course schedule is displayed and where an online forum will be opened for questions and answers, highlighting its role as a central hub for course communication and resources.

💡Environmental Factors

Environmental factors refer to the external conditions and influences that can affect a company's operations and strategies. In the video, Towa discusses how companies should analyze these factors from a macro perspective, including demography, economy, nature, technology, politics, and culture, which are crucial for understanding market trends and planning growth strategies.

💡Five Forces Analysis

Five Forces Analysis is a framework developed by Michael Porter to determine the attractiveness of an industry by examining the competitive forces at play. In the script, Towa explains that companies evaluate the structure of industries based on relationships with buyers, suppliers, the threat of new entrants, and substitute products, which helps in assessing the industry's potential and making strategic decisions.

💡SWOT Analysis

SWOT Analysis is a strategic planning tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats related to business or project. Towa mentions that companies organize factors based on this analysis to understand their internal capabilities and the external environment, which is essential for formulating effective marketing strategies.

💡Strengths

Strengths are the internal positive attributes or advantages that an organization possesses. In the context of the video, Towa refers to students' SWOT analysis of SOPIA, where they identified 'IND nationality' and the 'location of Campus' as strengths, suggesting these are beneficial aspects that can be leveraged in their strategic planning.

💡Weaknesses

Weaknesses are internal negative factors or disadvantages that an organization faces. Towa points out that some students considered the 'skill of the University' and the 'lack of a larger campus and professors' as weaknesses. However, he also notes that small class sizes can increase the quality of teaching, which can be a positive aspect.

💡Opportunities

Opportunities are positive external factors that present a chance for an organization to achieve its objectives. Towa mentions that the increasing interest of students in global educational systems could be an opportunity for SOPIA, indicating a potential area for growth and expansion.

💡Threats

Threats are negative external factors that could potentially harm an organization's objectives or performance. In the script, Towa discusses how higher competition among top universities in Tokyo, offering appealing courses and international exchange programs, poses a threat to SOPIA, which needs to be considered in their strategic planning.

💡Strategic Planning

Strategic planning is the process of defining an organization's long-term goals and creating a roadmap to achieve them. Throughout the video, Towa emphasizes the importance of analyzing internal and external factors, as well as conducting SWOT and Five Forces analyses, which are all integral parts of strategic planning for effective decision-making.

Highlights

Introduction of Taku Towa from the Department of Management.

Reminder to students to take care of their health amidst hot and humid weather.

Correction of an error in the course schedule; the Review section is at the seventh week, not the sixth.

Announcement of an online Q&A session on Moodle using the Forum function.

Clarification that participation in the Q&A session is optional and does not affect course grades.

Instructions not to ask about personal grades or scores during the Q&A session.

Emphasis on asking questions related to the course content, not personal information.

Review of previous topics on growth strategies and core competencies.

Explanation of analyzing environmental factors from a macro perspective.

Importance of monitoring demographic, economic, natural, technological, political, and cultural factors.

Introduction of the Five Forces analysis for evaluating industry structure.

Description of the SWOT analysis framework for organizing business factors.

Discussion of students' SWOT analysis on SOPIA and interesting findings.

Analysis of IND nationality and campus location as strengths for SOPIA.

Debate on whether a smaller campus and fewer professors are weaknesses for SOPIA.

Identification of global educational trends as potential opportunities for SOPIA.

Highlighting the competition among top universities in Tokyo as a threat for SOPIA.

Conclusion on the importance of creating original value for SOPIA to attract potential students.